Jewellery Industry Mourns the Loss of a Visionary Leader
Daniel Bracken, the chief executive and managing director of Michael Hill International, has passed away at the age of 57. The company announced his sudden death in a statement to the ASX and NZX, revealing that he suffered an adverse reaction to medical treatment for an underlying health condition.
“The board, executive and all of the Michael Hill team express their deepest and sincerest condolences to his family and friends,” the statement read.
Also Read: Queensland Dad Wins $15 Million Oz Lotto Jackpot, Plans to Help Loved Ones
Bracken had led the Brisbane-based jewellery chain since November 2018, overseeing more than 300 stores across Australia, New Zealand, and Canada. The company credited him as a passionate retailer, strategic thinker, and inspiring leader, who transformed Michael Hill into the business it is today.
Company Considers Leadership Transition
Michael Hill’s board will determine a leadership transition plan in due course. The company has not yet announced a successor or interim replacement.
“On behalf of the board, we thank Daniel for his outstanding leadership and dedication to the Michael Hill Group and our people over the past seven years,” the company stated.
Bracken’s passing comes just days after Michael Hill International released its latest financial results.
Michael Hill’s Financial Performance
The jewellery group reported A$360.2 million in revenue for the half-year to December 29, marking a slight 0.7% decline from the same period last year.
- Comparable EBIT: A$24.1 million (down from A$31.3 million in 2023)
- Net Profit After Tax: A$16.9 million (up from A$15.4 million)
- New Zealand Revenue: $60.5 million (down 7.4%)
- Gross Profit: $35.6 million (down from $39.1 million)
Despite the decline in revenue, net profit increased, showing the company’s ability to navigate challenging retail conditions.
A Career Defined by Retail Excellence
Bracken’s career spanned several high-profile retail roles.
- He began at Burberry, working in supply chain before becoming vice-president of strategy.
- He later became CEO of Specialty Fashion Group, where he grew its market capitalisation from A$20 million to over A$250 million.
- He also served as chief merchandise officer for Myer before joining Michael Hill.
Born in Hampstead, London, Bracken studied business management at University College London. Initially unsure about his career path, he took a supply chain placement at a Burberry supplier, which led to a 17-year tenure at the luxury fashion house.
“I did a general management degree and through that, I got a placement in the supply chain, at a supplier for Burberry,” Bracken said in a 2018 interview.
Over the years, he played a crucial role in Burberry’s global transformation, eventually overseeing strategy at the highest level.
Industry and Community React
Bracken’s sudden passing has shocked the retail and business community. Tributes have poured in, recognising his leadership, innovation, and influence in the jewellery and fashion industries.
Michael Hill’s statement described him as “a passionate retailer, an innovative and strategic thinker, and an inspiring leader.”
His impact extended beyond corporate success. Friends and colleagues remember him as an energetic and visionary executive, dedicated to developing talent and driving business transformation.
What’s Next for Michael Hill?
- Board to discuss leadership transition in the coming weeks.
- The company will continue executing Bracken’s growth strategy.
- Investors and stakeholders will watch for future financial updates following this leadership change.
Bracken leaves behind a legacy of transformation and growth, cementing his influence in the retail industry. His contributions will continue shaping Michael Hill International for years to come.
